Building a Trusted Relationship with Buyers

by: Rob Reed

Trust

A reliance upon information received from another person about uncertain environmental states and their accompanying outcomes in a risky situation.

Trust is largely a result of perception. No matter how much trust a seller “should” earn, the actual amount of trust is based on the buyer’s perception of the seller. Sellers must work constantly and ethically to earn buyer trust. This is particularly true in buy/sell environments where risk is high.

In a survey, sellers were asked how they earned buyer trust. They identified five elements they thought were important: competence, customer orientation, dependability, honesty, and likeability.

But it turns out there is a gap between what sellers believe and what buyers really think. Sellers attributed much more importance to likeability than buyers did. Competence was also valued more highly by sellers than buyers. So was dependability.

Buyers agreed with sellers on this, though, Honesty and customer orientation are extremely important.

When you work with buyers, do your utmost to be honest and customer-oriented — and to be perceived that way. Your buyers will value your effort, and you will increase your chances of building a trusted, long-lasting relationship.